The clinical data integration solutions provider, Diameter Health, has hoisted USD 9.6 million in Series A funding round to expand its product offering and clinical data integration platform. The funding round was led by Optum Ventures, along with Diameter’s existing Health investors Activate Venture Partners, Connecticut Innovations, Excelerate Health Ventures, and LRV Health. Based in Farmington, CT, Diameter Health’s scalable clinical data integration platform amasses and normalizes clinical data from any certified EHR (Electronic Health Records) for use in clinical and analytic applications.
Create in 2013, the Diameter Health platform gives power to organizations that rely on multi-source data streams like Health Information Exchanges (HIEs), Accountable Care Organizations (ACOs), health systems and health plans, to comprehend greater value from their data. As reports noted, the Healthcare firm plans to utilize the investment to support its processing of hundreds of millions of clinical elements transacted among health information exchanges, health plans, health systems, and other constituents.
Ahead of the announcement, Diameter Health CEO Eric Rosow said that the volume of clinical data being exchanged has grown exponentially over the last decade, and players across the health care ecosystem are grappling with how to make this influx a useful and valuable asset. He further noted that his company’s partnership with Optum Ventures will accelerate our ability to meet the industry demand for technology that makes clinical data actionable at scale. Besides, Diameter Health, according to the reports, will use this fresh capital to shore up its sales and marketing resources, in addition to its product offerings.